On the 29th, Chinese President Xi Jinping declared that he was willing to build a partnership with Russia in the energy sector.
China’s state CCTV reported on this day (29) President Xi’s message at the 4th China-Russia Energy Forum.
“China is willing to work with Russia to establish a close energy partnership, jointly promote the development of clean energy with Russia, and maintain international energy security and stability of industrial supply chains,” Xi said.
Xi’s remarks come as major G7 countries are pushing to introduce price caps on Russian crude.
Earlier, Russia said it would respond by increasing supplies of crude oil to countries not joining the G7 movement, such as China and India.
The representative of Russian oil producer Rosneft also told the forum that day that trade between the two countries will reach $190 billion this year. Rosneft supplies about 7% of Chinese crude oil demand.
According to Russian Deputy Prime Minister Alexander Novak, Russia’s energy exports to China have increased by about 64% this year, making Russia the world’s fourth largest trading center for the renminbi.
Reuters reported that while Russia is ramping up oil supplies to China, it is also discussing forming a gas alliance with Kazakhstan and Uzbekistan to bolster transportation between the three countries.
VOA news
*This article was taken from Reuters.
